Peak Design’s new game-changing Travel Tripod has been a smash hit on Kickstarter. Since being announced on May 21st, it has already raised over $8.4 million from over 19,000 backers, and there’s still 7 days to go.

This is the San Francisco-based company’s 9th crowdfunding campaign thus far, and it’s by far the most successful. The previous top 3 were the Everyday line of bags, the Everyday Messenger bag, and the Travel line of bags, which raised $4.8 million, $5.2 million, and $6.6 million, respectively.

The new Travel Tripod is what the company calls “the world’s most portable, packable, and easy-to-setup tripod for professionals and first-time tripod owners alike.”

Taking up only the diameter of a water bottle when collapsed, with no protrusions, the tripod can deploy to be 4.875 feet (1.49m) tall.

Features include leg cam levers that can be operated together, a single adjustment ring around the 3.25-inch ball head, a proprietary quick-release plate, a built-in universal phone mount, a bubble level, a hook for counterweights, and an included soft case.

It’ll be available in aluminum and carbon fiber leg variants that cost $350 and $600, respectively, but crowdfunding backers can “pre-order” them for $289 and $479, respectively, assuming the company succeeds in its plans and delivers on its promises.

As you might expect from seeing those prices on a compact travel tripod, many people balked at the cost of the tripods when they were announced. The company has since published an article about the “sticker shock,” providing a behind-the-scenes look at everything that goes into making a $600 tripod and why the price is what it is.

“A tripod made by fairly paid workers in safe conditions. A tripod that is made, assembled, and shipped with zero net carbon emissions. A tripod guaranteed for life. S**t, guess we could’ve just said that instead of writing this whole thing.”